CareTrust REIT (NASDAQ: CTRE) will acquire Cascadia of Nampa, a rehabilitation facility located in Nampa, Idaho, for $12.8 million.
The initial annual cash rent will be approximately $1.45 million. The acquisition was funded using cash on hand.
The facility will be added to CareTrust’s existing lease with Idaho-based Cascadia Healthcare, LLC, bringing the total facility count to 12 facilities with 1,013 licensed beds.
“Cascadia of Nampa is a purpose-built post-acute facility that will be a fixture in the Nampa healthcare community for years to come, and we are excited to watch Cascadia expand their patient-focused care model throughout the Treasure Valley,” said Mark Lamb, CareTrust CIO.
CareTrust REIT traded down 2.2% at $23.26 Monday morning.
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